As the spread of COVID-19 continues to impact many businesses throughout the world, Facebook is stepping up and doing their part to help out small businesses with a $100 million grant.
From the $100 million grant, $40 million will be used to support 10,000 small businesses in 34 different locations across the U.S. where Facebook employees live and work. Half of that $40 million ($20 million) will go to minority women and veteran-owned businesses.
Business owners now have the option to create Facebook Fundraisers to help support their businesses during this difficult time. Facebook is also offering the option of allowing its users to purchase digital gift cards to businesses and restaurants.
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Maxine Williams, the Global Chief Diversity Officer for Facebook said, “Within our overall U.S. (small and medium-sized business) grant investment, we are prioritizing 50 percent of grants to eligible minority, women and veteran-owned businesses due to the disproportionate impact that COVID-19 will have on these businesses, their employees and the communities that they service.”
Grants will be available for 30,000 eligible small businesses in over 30 countries. All of the grants for these businesses will be provided in cash or through ad credits. Through the grants, businesses can receive help with rent and operational costs, maintaining the workforce and connecting with customers.
Click here to learn additional information about Facebook’s Small Business Grants Program.
Roommates. what are your thoughts on Facebook’s efforts to help out small businesses during this difficult time?
TSR STAFF: Jade Ashley @Jade_Ashley94
